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prima:SEC fines over $49 million to six credit rating agencies

Moody’s, S&P and Fitch, among other firms that evaluate companies and governments, admitted to record-keeping violations

September 5, 2024 - 3:41 PM

Moody's Investors Service, Inc. acknowledged its non-compliance with the law and agreed to pay $20 million in penalties. (ANDREW GOMBERT)

The U.S. Securities and Exchange Commission (SEC) on Tuesday announced charges against six nationally recognized credit rating agencies (NRSROs) for significant failures to maintain and preserve electronic communications, violations to which the companies admitted and agreed to pay some $49.35 million in civil penalties.

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